VIDEO - Nick Hodge: We Need New Blood to Take Gold Higher

The gold price has been trading just below the $1,300-per-ounce mark for most of 2019, managing to breach it midway through last week.

But what will it take to push the yellow metal into a bull market?

According to Nick Hodge, founder of the Outsider Club, the answer is “new blood.”

“It looks like people are ready to come into the space that aren’t currently in the gold space, and that is what is truly needed for a gold bull market,” he said at the Vancouver Resource Investment Conference.

“I can buy gold until I’m blue in the face, and everybody in this room can buy gold until they’re blue in the face, but they’re the people that have already been buying gold for the past two decades … you need new blood, you need new capital to come in to truly propel the gold price and the gold stocks higher.”

Hodge said he is beginning to see that interest return, explaining that there are two factors driving attention from non-traditional gold investors: the bitcoin/cryptocurrencies phenomenon and the fact that gold is in the headlines.

Speaking about the former, he commented, “it got [younger people] talking about fiat currency and the fact that the dollar is backed by nothing. And so I think crypto was a good educator into why the dollar isn’t as almighty as some people think.”

Watch the video above for more insight from Hodge on gold, as well as his thoughts on where the uranium market is at. You can also click here to view our full playlist from the conference on YouTube.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.